Celgene (CELG) Downgraded by Vetr to Buy

Vetr lowered shares of Celgene (NASDAQ:CELG) from a strong-buy rating to a buy rating in a research report released on Tuesday morning. Vetr currently has $121.72 target price on the biopharmaceutical company’s stock.

CELG has been the subject of a number of other research reports. Royal Bank of Canada reduced their price objective on Celgene from $166.00 to $148.00 and set a top pick rating for the company in a research report on Friday, October 27th. Leerink Swann reissued a buy rating and set a $156.00 price objective on shares of Celgene in a research report on Friday, October 20th. Morgan Stanley reduced their price objective on Celgene from $120.00 to $115.00 and set an underweight rating for the company in a research report on Monday, October 23rd. Cantor Fitzgerald reissued a buy rating on shares of Celgene in a research report on Monday, August 28th. Finally, SunTrust Banks reduced their price objective on Celgene from $156.00 to $127.00 and set a buy rating for the company in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Celgene has a consensus rating of Buy and a consensus price target of $138.81.

Shares of Celgene (CELG) opened at $109.04 on Tuesday. The stock has a market capitalization of $85,030.23, a price-to-earnings ratio of 16.88, a P/E/G ratio of 0.83 and a beta of 1.78. Celgene has a 12-month low of $94.55 and a 12-month high of $147.17. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31.

Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.04. The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 earnings per share. equities analysts forecast that Celgene will post 6.67 EPS for the current year.

In other news, insider Terrie Curran sold 1,727 shares of Celgene stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $143.89, for a total value of $248,498.03. Following the transaction, the insider now directly owns 3,925 shares in the company, valued at $564,768.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.95% of the company’s stock.

Several institutional investors have recently bought and sold shares of CELG. Janus Henderson Group PLC increased its stake in Celgene by 4,290.5% during the second quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock valued at $1,092,071,000 after acquiring an additional 8,217,433 shares during the period. BlackRock Inc. increased its stake in Celgene by 5.7% during the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after acquiring an additional 3,084,227 shares during the period. Oaktop Capital Management II L.P. bought a new position in Celgene during the second quarter valued at about $271,605,000. Arrowstreet Capital Limited Partnership increased its stake in Celgene by 1,489.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock valued at $247,669,000 after acquiring an additional 1,787,052 shares during the period. Finally, Vanguard Group Inc. increased its stake in Celgene by 3.1% during the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after acquiring an additional 1,610,056 shares during the period. Institutional investors and hedge funds own 80.16% of the company’s stock.

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Celgene Company Profile

Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.

Analyst Recommendations for Celgene (NASDAQ:CELG)

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